Code of Federal Regulations Title 24. Housing and Urban Development § 24.884.123 Conversions

(a) Conversion of private-owner project to private-owner/PHA project. HUD may request the Owner of a Private–Owner Project and an appropriate PHA to agree, if they are willing, to a conversion of any such project to a Private–Owner/PHA Project if HUD determines that such conversion would promote efficient project administration.

(b) Conversion of private-owner/PHA project to private-owner project. The Private Owner and the PHA, in the case of a Private–Owner/PHA Project, may request HUD to agree to a conversion of any such project to a Private–Owner or PHA–Owner Project. HUD shall agree to such conversion if it determines it to be in the best interest of the project.